TORONTO: Canada’s main stock index rose on Tuesday as global risk sentiment improved after reports of Moscow’s withdrawal of some troops near Ukraine calmed fears of a potential Russian invasion.
However, weakness in commodity-linked shares limited gains on the benchmark.
At 9:39 a.m. ET (14:39 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 85.15 points, or 0.4%, at 21,437.66, recovering some of the previous session’s losses.
Some troops in Russia’s military districts adjacent to Ukraine are returning to bases after completing drills, Russia’s defence ministry was quoted as saying on Tuesday, a move that could de-escalate frictions between Moscow and the West.
“Even though global equity markets have wind in their backs, the Canadian market could get impacted by falling oil and gold prices. But that’s in the short term and both of those are still relatively high,” said Colin Cieszynski, chief market strategist at SIA Wealth Management.
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